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SYR - Morgan Stanley rates as Equal-weight
BY BROKER NEWS - 31/01/2018 | VIEW MORE BROKER UPDATES

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SYR - SYRAH RESOURCES LIMITED


The company is taking slightly longer to become positive on cash flow as revisions to its ramp-up plans are driving delays. Balama is now expected to be cash flow positive early in the second half versus the first half on previous estimates.

Costs are also slightly higher. The broker notes the signing and sanctioning of the mining agreement is still pending.

Equal-weight retained. Target is $3.75. Industry view is Attractive.

Sector: Materials.

Target price is $3.75.Current Price is $4.05. Difference: ($0.30) - (brackets indicate current price is over target). If SYR meets the Morgan Stanley target it will return approximately -8% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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